Major loan funds Syria telecom expansion

Dec 19, 2005

An international loan agreement worth nearly $120 million will help Syria expand telecom services into the country's rural regions.

The Facility for Euro-Mediterranean Investment and Partnership Monday announced the 100 million euro loan for the extension of fixed-line telephone service to an estimated 430,000 new customers in 4,300 villages.

FEMIP said in a news release that the Syrian Telecommunications Establishment would oversee the project, which is the first FEMIP project in the Mediterranean region's telecom industry. The FEMIP serves as an interface between the Med and the European Investment Bank.

"The Syrian telecom sector as a whole also stands at a turning point in its development, as witnessed by the current preparation of a new telecom sector law, which I trust will be adopted next year by the Syrian authorities," said FEMIB official Philippe de Fontaine Vive. "The EIB will closely follow the economic reform process of the Syrian telecom sector, given the huge potential the sector has to stimulate economic growth in Syria and attract private sector investment from abroad."

Copyright 2005 by United Press International

Explore further: 'Call of Duty: Black Ops 3': 5 ways it's different

Related Stories

Ears, grips and fists take on mobile phone user ID

15 hours ago

A research project has been under way to explore a biometric authentication system dubbed Bodyprint, with interesting test results. Bodyprint has been designed to detect users' biometric features using the ...

More than 2,200 confirmed dead in Nepal earthquake

15 hours ago

A powerful aftershock shook Nepal on Sunday, making buildings sway and sending panicked Kathmandu residents running into the streets a day after a massive earthquake left more than 2,200 people dead.

Recommended for you

The cost of staying cool when incomes heat up

3 hours ago

The continual increase in global incomes means people are living more comfortably, including having the ability to afford air conditioning. Staying cool is good but there's a wealth of fallout. The demand ...

Facebook rolls out video calls on Messenger

4 hours ago

Facebook on Monday began rolling out video calling on its Messenger mobile application, enabling face-to-face conversations among users of the app around the world.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.